Leveraged Longs Take 86.36% of $452.9 Million in 24-Hour Crypto Liquidations

Longs Bear $391 Million of the Wipeout

Long traders carried almost the entire weight of the crypto market's latest flush. Derivatives data from CoinGlass shows $452.86 million in leveraged positions were forcibly closed across the market's top 20 coins in the 24 hours measured as of 06:55 UTC on Sunday, and 86.36% of that total, some $391.08 million, came from the long side of crypto futures books. Short positions accounted for the remaining $61.78 million, which means longs were liquidated at roughly 6.3 times the rate of shorts. The split is lopsided, and it says the crowded bet in this session sat on further upside, not on a decline.

The mechanics behind the purge are mechanical rather than directional: when a leveraged position in futures trading falls below its maintenance margin, the venue closes it automatically, converting an open bet into a realized loss. On perpetual contracts, funding rate charges compound the pressure once one side of the book gets crowded, so a drift lower can turn into a cascade as stops trigger in sequence. Bitcoin led the coin-level tally at $176.16 million in liquidations, of which 89% were longs, and Ethereum followed with $161.51 million, 84% of it from long positions. At the time of the reading Bitcoin had slipped to $80,355, down 0.38% on the day, while Ethereum traded at $2,336, down 1.62%. Our live monitoring now puts Bitcoin near $80,500, essentially flat since the data was pulled, and Ethereum near $2,342, so the spot market has steadied while the leverage cleanup shows up in the derivatives record.

Bitcoin and Ethereum Lead the Coin Table

Below the two majors, the flush thinned out but kept its shape. Solana recorded $23.93 million in liquidations with 86% of it hitting longs, while the token itself slipped 0.65% over the same window. NEAR logged $17.53 million, 93% from long positions. The most one-sided line belonged to Hyperliquid (HYPE), where 99% of its $15.37 million in liquidations were longs, alongside a 1.50% price decline. Zcash (ZEC) took $14.88 million with a 74% long share even as the coin gained 1.59%, and XRP saw $7.43 million liquidated, 86% of it longs, while the token actually rose 0.63% over the period. Those two lines are worth reading carefully: coins can log long-heavy liquidations even while trading higher, because positions opened earlier at worse prices get closed as volatility widens, not only when price falls. Dogecoin (DOGE) was the most balanced of the larger lines, splitting $10.14 million almost evenly, with 52% from longs. One caveat on scale: the figures cover the top 20 coins and exchange lines CoinGlass ranks in its liquidation tables, not the entire market, and prices are drawn from CoinMarketCap. Aggregation methods differ across venues and products, so totals from other trackers can diverge from these sums. In practice that means $452.86 million is a floor on the session's true liquidation footprint, not a ceiling, since smaller coins and less-covered contracts sit outside the ranked tables.

Our reading is that this was a positioning event, not a price collapse. Spot barely moved from the levels where the flush was measured, yet the long side lost nearly $391 million, which points to leverage having accumulated well ahead of the drawdown. What the imbalance leaves standing matters more than the headline total: the long side of the top-20 derivatives book is now materially lighter, while short positions, touched for only $61.78 million, are largely intact. Aggregate open interest resets with flushes like this, and leverage typically rebuilds only as funding rate conditions normalize. Until then, the near-term cushion sits with the side that was not forced to sell.